Company mission: Difference between revisions
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'''Company mission''' is the rationale of why a company exists. It defines the cumulative goal for the company and identifies its primary customers and market. A company's mission is the driving force of the company because everyone knows what the company is striving for. It is important for companies that have a mission to make sure that their employees also embrace it because a cumulative effort will be required to achieve the set goals. Every company should come up with a mission that gets people interested in it and motivates them to become part of their set up | '''[[Company]] mission''' is the rationale of why a company exists. It defines the cumulative goal for the company and identifies its primary customers and [[market]]. A company's mission is the driving force of the company because everyone knows what the company is striving for. It is important for companies that have a mission to make sure that their employees also embrace it because a cumulative effort will be required to achieve the set goals. Every company should come up with a mission that gets people interested in it and motivates them to become part of their set up<ref name="p1"> Johnson N., (2009), [https://books.google.pl/books?id=UZXmBLwLYPcC&pg=PA402&dq=company%20mission&hl=en&sa=X&ved=0ahUKEwieie6tprjpAhUKHHcKHYx-D5YQ6AEIaDAH&fbclid=IwAR0gkWpxS5-a27PCG5iflNH46Zi_Q6QLsJNMlgHY2j8mS3vG8-I2bu8K7AE#v=onepage&q&f=false ''Business as Mission: A Comprehensive Guide to Theory and Practice''], InterVarsity Press </ref> | ||
==Designing company mission== | ==Designing company mission== | ||
Designing a company mission can be a very time-consuming process as it needs to precise and concise. So, it is important that fundamental factors are taken into consideration before coming up with a final company mission. The most important factors to consider in the process of drafting the company mission are <ref name="p2"> Campbell A., Tawadey K., (1990), [https://books.google.pl/books?id=TiaTDAAAQBAJ&pg=PA1&source=gbs_toc_r&cad=4#v=onepage&q&f=false ''Mission and Business Philosophy''], Butterworth-Heinemnann </ref>: | Designing a company mission can be a very time-consuming [[process]] as it [[needs]] to precise and concise. So, it is important that fundamental factors are taken into consideration before coming up with a final company mission. The most important factors to consider in the process of drafting the company mission are <ref name="p2"> Campbell A., Tawadey K., (1990), [https://books.google.pl/books?id=TiaTDAAAQBAJ&pg=PA1&source=gbs_toc_r&cad=4#v=onepage&q&f=false ''Mission and Business Philosophy''], Butterworth-Heinemnann </ref>: | ||
* '''Purpose''' | * '''Purpose''' - Why does the company exist? This is one of the most important parts in order to draft the company mission. This explains why the company exists in the first place and what is the reason for its formation. The purpose should be inspirational so that it leads to an inspirational mission, | ||
* '''Strategy''' | * '''[[Strategy]]''' - What is the commercial point of view? Another important factor in the design of company mission is the strategy it is going to use. The strategy covers the commercial part of the business. In order to have a successful strategy, the domain needs to be defined in which the company is going to operate. The strategy of how to make the company stand out in the [[competition]] is very important. It should be clear in the company mission that what strategy is it going to follow and what is the target audience and domain. | ||
* '''Values''' | * '''Values''' - What are the values of the company? It is believed that there are two main reasons for any business, the first one being the economic reason and the second one being values or moral based reason. In addition to commercial benefits, company values can also play a vital role in the company's success. If the values set by the company are liked by both employees and customers, the company can have a great advantage over its company. The importance of values should also be visible in the company vision. A company can be a great success If everyone in the company is both physically and emotionally contributing towards the company mission which is based on company values. | ||
* '''Standards''' | * '''Standards''' - How does the company operate? Every company has certain standards under which it operates. These standards should be met at every level of the [[organization]]. The company mission needs to be in full compliance with the set standards and also the type of [[management]] the company is going to follow. | ||
==Purpose of company mission== | ==Purpose of company mission== | ||
Having a mission makes the '''workers more effective''' because they know what the goal is. It can also help '''relate to customers''' and clients as they are the most important people at the end of the day. Employees tend to '''work more intelligently''' if they believe in what they are doing. If the employees have their true belief in the company mission, they can be both physically and spiritually '''working to achieve that goal''', this in result will make them more effective. | Having a mission makes the '''workers more effective''' because they know what the goal is. It can also help '''relate to customers''' and clients as they are the most important people at the end of the day. Employees tend to '''[[work]] more intelligently''' if they believe in what they are doing. If the employees have their true belief in the company mission, they can be both physically and spiritually '''working to achieve that goal''', this in result will make them more effective. | ||
Another major reason is that the company can have an '''advantage over its competitors''' through its company mission. A lot of customers are attracted towards the company if the company has a relatable mission. | Another major reason is that the company can have an '''advantage over its competitors''' through its company mission. A lot of customers are attracted towards the company if the company has a relatable mission. | ||
A crucial purpose of the company mission is to '''inspire employees''' to join or stay with the organization. If the employees believe in what they do, they will more like stay and even may work harder. | A crucial purpose of the company mission is to '''inspire employees''' to join or stay with the organization. If the employees believe in what they do, they will more like stay and even may work harder. | ||
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==Advantages of company mission== | ==Advantages of company mission== | ||
The company mission is considered to have a lot of advantages which is why almost every company in the world has a mission that it follows. Having an effective company mission will help the company and gain a lot of customers. It may also give a major advantage over other companies in the same domain who do not have a good company mission. Some other advantages linked to having a company mission are <ref name="p3"> Anonym (2016), [https://books.google.pl/books?id=2pjBDQAAQBAJ&printsec=frontcover&dq=mission%20statement&hl=en&sa=X&ved=0ahUKEwivrbaRprjpAhUsi8MKHXSHB8QQ6AEIZTAH&fbclid=IwAR2fpstLeGQqAiV5qxh4CeEIucz6drZaoJgz4VrqwSzQdGgbtwQiG3F9nUk#v=onepage&q&f=false ''The Role of Mission Statements''], German National Library </ref>: | The company mission is considered to have a lot of advantages which is why almost every company in the world has a mission that it follows. Having an effective company mission will help the company and gain a lot of customers. It may also give a major advantage over other companies in the same domain who do not have a good company mission. Some other advantages linked to having a company mission are <ref name="p3"> Anonym (2016), [https://books.google.pl/books?id=2pjBDQAAQBAJ&printsec=frontcover&dq=mission%20statement&hl=en&sa=X&ved=0ahUKEwivrbaRprjpAhUsi8MKHXSHB8QQ6AEIZTAH&fbclid=IwAR2fpstLeGQqAiV5qxh4CeEIucz6drZaoJgz4VrqwSzQdGgbtwQiG3F9nUk#v=onepage&q&f=false ''The Role of Mission Statements''], German National Library </ref>: | ||
* '''A guideline for everyone''' | * '''A guideline for everyone''' - Company mission can act as a guideline for everyone involved with the company starting from the owners to the field workers. No one needs to reiterate it because everyone already knows what they are working for. | ||
* '''Cohesion''' | * '''Cohesion''' - Like in any other situation if everyone is working for the same goal it makes all of them closer and hence more effective. Everyone working for the company will feel that they are in together and they [[need]] to cooperate in order to achieve the end goals. This togetherness among employees can result in financial benefits, increase work [[efficiency]], advantage over competitors, etc. | ||
==Footnotes== | ==Footnotes== | ||
<references/> | <references/> | ||
{{infobox5|list1={{i5link|a=[[Strategic driver]]}} — {{i5link|a=[[Consumer orientation]]}} — {{i5link|a=[[Strategic goal]]}} — {{i5link|a=[[Core values]]}} — {{i5link|a=[[Success criteria examples]]}} — {{i5link|a=[[Value drivers]]}} — {{i5link|a=[[Chief executive officer (CEO)]]}} — {{i5link|a=[[Acquired needs theory]]}} — {{i5link|a=[[Goals of marketing]]}} }} | |||
==References== | ==References== | ||
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* Russo M., (2010), [https://books.google.pl/books?id=eM6f1sQEktsC&pg=PA37&dq=company%20mission&hl=en&sa=X&ved=0ahUKEwieie6tprjpAhUKHHcKHYx-D5YQ6AEIOjAC&fbclid=IwAR2C1e_Hou2f2FGd758JIU3kv-Pjs5vk1aE6UiCYGCRF7u8K_v1oMc30HQ0#v=onepage&q&f=false ''Companies on a Mission: Entrepreneurial Strategies for Growing Sustainably, Responsibly, and Profitably''], Stanford Business Books | * Russo M., (2010), [https://books.google.pl/books?id=eM6f1sQEktsC&pg=PA37&dq=company%20mission&hl=en&sa=X&ved=0ahUKEwieie6tprjpAhUKHHcKHYx-D5YQ6AEIOjAC&fbclid=IwAR2C1e_Hou2f2FGd758JIU3kv-Pjs5vk1aE6UiCYGCRF7u8K_v1oMc30HQ0#v=onepage&q&f=false ''Companies on a Mission: Entrepreneurial Strategies for Growing Sustainably, Responsibly, and Profitably''], Stanford Business Books | ||
* Wielens M., (1994), [https://books.google.pl/books?id=hUh4AQAAQBAJ&pg=PA63&dq=company%20mission&hl=en&sa=X&ved=0ahUKEwieie6tprjpAhUKHHcKHYx-D5YQ6AEIVjAF&fbclid=IwAR2fpstLeGQqAiV5qxh4CeEIucz6drZaoJgz4VrqwSzQdGgbtwQiG3F9nUk#v=onepage&q&f=false ''Implementing the Corporate Mission''], Diplomica Verlag | * Wielens M., (1994), [https://books.google.pl/books?id=hUh4AQAAQBAJ&pg=PA63&dq=company%20mission&hl=en&sa=X&ved=0ahUKEwieie6tprjpAhUKHHcKHYx-D5YQ6AEIVjAF&fbclid=IwAR2fpstLeGQqAiV5qxh4CeEIucz6drZaoJgz4VrqwSzQdGgbtwQiG3F9nUk#v=onepage&q&f=false ''Implementing the Corporate Mission''], Diplomica Verlag | ||
[[Category:Organizational culture]] | [[Category:Organizational culture]] | ||
{{a|Agnieszka Florczak}} | {{a|Agnieszka Florczak}} | ||
Latest revision as of 18:33, 17 November 2023
Company mission is the rationale of why a company exists. It defines the cumulative goal for the company and identifies its primary customers and market. A company's mission is the driving force of the company because everyone knows what the company is striving for. It is important for companies that have a mission to make sure that their employees also embrace it because a cumulative effort will be required to achieve the set goals. Every company should come up with a mission that gets people interested in it and motivates them to become part of their set up[1]
Designing company mission
Designing a company mission can be a very time-consuming process as it needs to precise and concise. So, it is important that fundamental factors are taken into consideration before coming up with a final company mission. The most important factors to consider in the process of drafting the company mission are [2]:
- Purpose - Why does the company exist? This is one of the most important parts in order to draft the company mission. This explains why the company exists in the first place and what is the reason for its formation. The purpose should be inspirational so that it leads to an inspirational mission,
- Strategy - What is the commercial point of view? Another important factor in the design of company mission is the strategy it is going to use. The strategy covers the commercial part of the business. In order to have a successful strategy, the domain needs to be defined in which the company is going to operate. The strategy of how to make the company stand out in the competition is very important. It should be clear in the company mission that what strategy is it going to follow and what is the target audience and domain.
- Values - What are the values of the company? It is believed that there are two main reasons for any business, the first one being the economic reason and the second one being values or moral based reason. In addition to commercial benefits, company values can also play a vital role in the company's success. If the values set by the company are liked by both employees and customers, the company can have a great advantage over its company. The importance of values should also be visible in the company vision. A company can be a great success If everyone in the company is both physically and emotionally contributing towards the company mission which is based on company values.
- Standards - How does the company operate? Every company has certain standards under which it operates. These standards should be met at every level of the organization. The company mission needs to be in full compliance with the set standards and also the type of management the company is going to follow.
Purpose of company mission
Having a mission makes the workers more effective because they know what the goal is. It can also help relate to customers and clients as they are the most important people at the end of the day. Employees tend to work more intelligently if they believe in what they are doing. If the employees have their true belief in the company mission, they can be both physically and spiritually working to achieve that goal, this in result will make them more effective. Another major reason is that the company can have an advantage over its competitors through its company mission. A lot of customers are attracted towards the company if the company has a relatable mission. A crucial purpose of the company mission is to inspire employees to join or stay with the organization. If the employees believe in what they do, they will more like stay and even may work harder.
Advantages of company mission
The company mission is considered to have a lot of advantages which is why almost every company in the world has a mission that it follows. Having an effective company mission will help the company and gain a lot of customers. It may also give a major advantage over other companies in the same domain who do not have a good company mission. Some other advantages linked to having a company mission are [3]:
- A guideline for everyone - Company mission can act as a guideline for everyone involved with the company starting from the owners to the field workers. No one needs to reiterate it because everyone already knows what they are working for.
- Cohesion - Like in any other situation if everyone is working for the same goal it makes all of them closer and hence more effective. Everyone working for the company will feel that they are in together and they need to cooperate in order to achieve the end goals. This togetherness among employees can result in financial benefits, increase work efficiency, advantage over competitors, etc.
Footnotes
- ↑ Johnson N., (2009), Business as Mission: A Comprehensive Guide to Theory and Practice, InterVarsity Press
- ↑ Campbell A., Tawadey K., (1990), Mission and Business Philosophy, Butterworth-Heinemnann
- ↑ Anonym (2016), The Role of Mission Statements, German National Library
| Company mission — recommended articles |
| Strategic driver — Consumer orientation — Strategic goal — Core values — Success criteria examples — Value drivers — Chief executive officer (CEO) — Acquired needs theory — Goals of marketing |
References
- Bennett R., William L., (2007), Mission-based AlignmentTake Your Company To The Top And Keep It There, Atlantic Publishers & Distributors (P) Ltd
- Russo M., (2010), Companies on a Mission: Entrepreneurial Strategies for Growing Sustainably, Responsibly, and Profitably, Stanford Business Books
- Wielens M., (1994), Implementing the Corporate Mission, Diplomica Verlag
Author: Agnieszka Florczak
